FINOPB

Fino Payments Bank share price & financials

Price
₹174.21
Market cap
₹1.3k Cr
Sector
Financial Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 14 Aug 2026

Fino Payments Bank Limited Q1 FY27

EBITDA ₹43.1 cr

What went well

  • Referral loan disbursement increased to INR 628 crores in Q1 FY27, up 214% YoY, representing 50% of FY26 total.
  • Net revenue margin expanded to 42.8%, improving 275 bps sequentially and 925 bps year-on-year, reflecting improved quality of earnings.
  • Average CASA balance stood at INR 1,280 crores, and average total deposits increased 12% YoY to INR 2,772 crores, with a low cost of funds at 1.4%.

What to watch

  • Q1 FY27 was described as one of the toughest quarters in the bank's history.
  • The most profitable B2B business (UPI P2M) has been paused for recalibration, expected to take at least next couple of quarters for relaunch.
Read the full call →

What Fino Payments Bank Limited does

Fino Payments Bank is a specialised Indian bank focused on payments and banking services for underserved households, gig-economy workers and rural communities. It runs a 'phygital' (physical + digital) distribution model, using a large network of merchants who act as local banking representatives instead of a conventional branch network, to offer savings accounts, domestic money transfer, Micro-ATM/AePS cash withdrawal, mobile banking and cash-management services. It earns through CASA/float income, digital-payment and transaction fees, cash management services (CMS), BC (business-correspondent) banking for partner banks, and treasury operations, and has received RBI in-principle approval to convert into a Small Finance Bank.

Segments

  • CASA
  • Digital Payment Services
  • Transaction Business
  • CMS
  • BC Banking
  • Treasury & Others
Merchant network
20.6 lakh (Q3 FY26)
Branches & Customer Service Points
126 (71 branches + 55 customer service points)
Pin-code coverage across India
97%
CASA accounts
1.68 crore (Q3 FY26)
Digitally active customers
59.8 lakh (Dec'25)
Total transaction throughput
₹118.1k Cr (Q3 FY26)
Founded 2017Headquarters Navi Mumbai, MaharashtraEmployees 2,897 (Q3 FY26 (Dec'25)) Company website

Guidance record · Q1 FY27

what the last two calls moved 21 tracked 3 delivered 4 missed 14 open
  • FY25 Revenue Growth delivered said Q3 FY25 Promised: 25% for FY '25 Q1 FY27: Previously achieved
  • FY26 Revenue Growth missed said Q4 FY25 Promised: Exceed 25% and above, in FY '26 Q1 FY27: Previously missed
  • Net Interest Margin (NIM) revised down said Q4 FY26 Promised: 8% to 10% Q1 FY27: Guidance revised to a range of 8% to 9%.

All 21 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 18.0%, net profit down 177.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue48 49 53 61 60 +25%63 +29%64 +21%72 +18%
EBITDA-357 -358 -385 -339 -291 +18%-281 +22%-242 +37%-213 +37%
Net profit21 23 24 18 15 −29%12 −48%7 −71%-14 −178%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −48.4% 1Y

₹100₹150₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 30 Oct 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 30 Apr 2026Q1 FY27 — 14 Aug 2026

1Y: ₹270.8 on 10 Sept 2025 → ₹139.83. High ₹336 (15 Oct 2025), low ₹112.46 (24 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−8.2%
14 Aug
Q4 FY26
−6.1%
30 Apr
Q3 FY26
−2.5%
30 Jan
Q2 FY26
−0.6%
30 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 38.0% a year over 3 years, FY23 to FY26.

Year endingFY23FY24FY25FY26
Revenue₹94 Cr₹150 Cr₹195 Cr₹248 Cr
Operating profit—₹-1.2k Cr₹-1.4k Cr₹-1.2k Cr
Operating margin—-776.0%-740.0%-464.9%
Interest₹48 Cr₹79 Cr₹101 Cr₹114 Cr
Depreciation₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net profit₹65 Cr₹87 Cr₹92 Cr₹52 Cr
Net margin68.9%58.0%47.2%21.0%
ROCE7.0%7.0%7.0%5.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹45 Cr₹83 Cr₹83 Cr₹83 Cr₹83 Cr₹83 Cr
Reserves₹106 Cr₹397 Cr₹469 Cr₹560 Cr₹670 Cr₹687 Cr
Borrowings₹424 Cr₹752 Cr₹1.4k Cr₹2.1k Cr—₹3.9k Cr
Other liabilities₹436 Cr₹448 Cr₹563 Cr₹651 Cr₹615 Cr₹627 Cr
Total liabilities₹1.0k Cr₹1.7k Cr₹2.5k Cr₹3.4k Cr₹4.3k Cr₹5.3k Cr
Fixed assets₹62 Cr₹92 Cr₹139 Cr₹148 Cr₹332 Cr₹364 Cr
Capital work in progress₹2 Cr₹0 Cr₹5 Cr₹47 Cr₹0 Cr₹0 Cr
Investments₹504 Cr₹631 Cr₹1.1k Cr₹1.7k Cr₹2.4k Cr₹3.3k Cr
Other assets₹443 Cr₹956 Cr₹1.2k Cr₹1.5k Cr₹1.6k Cr₹1.7k Cr
Total assets₹1.0k Cr₹1.7k Cr₹2.5k Cr₹3.4k Cr₹4.3k Cr₹5.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +5.25 pp while DIIs trimmed −3.04 pp. The shareholder count shrank 2% to 62,125.

Promoters
75.0%
FIIs
0.3%
Public
24.7%

Since Jun 2025

  • Public +5.25 pp
  • DIIs −3.04 pp
  • FIIs −2.23 pp

How it drifted, 12 quarters

Over this window the public went from 12.6% to 24.7% — +12.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 5.6%, DIIs 6.8%, Public 12.6%.Dec '23: Promoters 75.0%, FIIs 5.1%, DIIs 5.6%, Public 14.3%.Mar '24: Promoters 75.0%, FIIs 5.1%, DIIs 5.9%, Public 14.0%.Jun '24: Promoters 75.0%, FIIs 5.1%, DIIs 6.0%, Public 13.9%.Sep '24: Promoters 75.0%, FIIs 4.2%, DIIs 6.1%, Public 14.7%.Dec '24: Promoters 75.0%, FIIs 3.7%, DIIs 6.1%, Public 15.2%.Mar '25: Promoters 75.0%, FIIs 4.1%, DIIs 3.5%, Public 17.4%.Jun '25: Promoters 75.0%, FIIs 2.5%, DIIs 3.0%, Public 19.4%.Sep '25: Promoters 75.0%, FIIs 2.7%, DIIs 3.4%, Public 19.0%.Dec '25: Promoters 75.0%, FIIs 2.7%, DIIs 0.5%, Public 21.9%.Mar '26: Promoters 75.0%, FIIs 1.3%, DIIs 0.4%, Public 23.3%.Jun '26: Promoters 75.0%, FIIs 0.3%, Public 24.7%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Fino Payments Bank Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Fino Paytech Limited 75.00%unchanged
Sameer Manchanda 1.44%unchanged
Zodiac Wealth Advisors Llp 1.11%unchanged
Rajeev Arora 0.00%unchanged
Viprraj Bhardwaj 0.00%unchanged
Ashish Ahuja 0.00%unchanged
Shailesh B Pandey 0.00%unchanged
Rishi Gupta 0.00%unchanged
Fino Financial Services Private Limited 0.00%unchanged
Fino Trusteeship Services Limited 0.00%unchanged
FFPL Finserv Private Limited 0.00%unchanged
Amit Kumar Jain 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Fino Payments Bank Limited

Guides on how to read this kind of business and the numbers that matter.